Income Tax Returns – Form 5 Filing
ITR- Form - 5:- Following assesses shall utilise this ITR- 5 for reporting their income tax.
- Partnership Firm
- Limited Liability Partnership LLP
- Association of persons
- Body of individuals
- Artificial Juridical person
- Co-Operative Society
- Local Authority is not applicable for Trust, Political Party, Institutions, Colleges, etc.
What is ITR – Form – 5 Filing
This income tax return is meant for firms, LLPs, AOP’s (association of persons) , and BOI’s (body of individuals).
- This form can be used as a person being a firm, LLP’s, AOP, BOI, artificial judicial person referred to in section 2(31) via, cooperative society and local authority.
- However, a person who is required to file the return of income under section 130(4A) or 139(4B) or 139(4C) OR 139(4D) shall not use this form.